BitGo, a cryptocurrency custodian, has set a valuation of roughly $1.85 billion, the middle of its offering range. It plans to raise up to $201 million through the IPO.
The Silicon Valley-based company, which offers prime brokerage, regulated trust services, and self-custody wallets, has stated in an amended filing with the U.S. Securities and Exchange Commission that it intends to sell 11 million shares for $15 to $17 each in the IPO. Insiders are offering an additional 821,595 shares.
The IPO follows such a move from a number of other crypto companies, including CoinDesk’s parent company Bullish, stablecoin issuer Circle Internet, crypto exchange Gemini Space Station and financial services firm Figure.
According to the filing, revenue of the company spiked to nearly $10 billion in the first nine months of 2025 from $1.9 billion over the same period in the previous year, driven primarily by high-volume trading and digital asset settlement services.
That helped lift the bottom line to $35.3 million in net income for the first nine months of 2025, up from $21.2 million in the year-earlier period.
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